Food processor IFS won't pay 2011 dividend

Update:
February, 25/2012 - 09:11

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HCM CITY — International Food Co (IFS) incurred losses in 2011 and will not pay a dividend this year. The company's board of directors has also voted not to pay its members a bonus for 2011. Despite last year's losses, IFS has targeted a 57-per-cent increase in earnings this year. The company also plans to borrow US$9 million from its Japanese parent company Kirin Holdings Co Ltd to supplement its operating capital.

IFS has delayed cancelling its listing on the HCM City Stock Exchange this year. — VNS